No More Taxes! Thailand Removes VAT to Become Asia Crypto Hub
๐ต Thailand's Finance Ministry has removed the 7% value-added tax (VAT) on cryptocurrency trading
๐ต Effective January 1, 2024 with no specified expiration
๐ต Applies to authorized digital asset exchanges, brokers, and dealers regulated by the Securities and Exchange Commission of Thailand (SEC)
Goals Behind Decision:
๐ต Promote Thailand as a digital asset hub in the region
๐ต Support further growth of the country's cryptocurrency industry
๐ต Provide a boost to the digital economy
Previous Actions:
๐ต VAT exemption on transfer of digital tokens enacted May 14, 2023
๐ต Thailand has become a top jurisdiction for offshore crypto investors
Future Outlook:
๐ต Ministry of Finance and SEC amending securities laws to classify digital tokens as securities
๐ต Expected to further expand Thailand's #cryptocurrency market activity and access
When will India wake up and smell the crypto revolution brewing?
Please #reducecryptotax
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